Security National Financial Corporation (SNFCA) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Security National Financial Corporation's first quarter 2025 earnings call. We thank you for joining us today to review our financial and operational results for the period ended March 31st, 2025. Before we begin, I'd like to remind everyone that our remarks today will include forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from those projected. Such risks include, but are not limited to, changes in economic conditions, interest rates, regulatory developments, competitive pressures, and other factors detailed in our filings with the Securities and Exchange Commission. We caution you not to place undue reliance on these forward-looking statements, which speak only as of today's date. We undertake no obligation to publicly update or revise these statements to reflect future events or circumstances. except as required by law. With that, I'd like to turn the call over to our Chairman, President, and Chief Executive Officer, Scott Quist. Scott? Approximately 42 percent, or 3.1 million, from $7.475 million in 2024 to $4.338 million in 2025. Pre-tax earnings decreased approximately 41% or $4.05 million to $5.571 million. Most of my following comments will be using the pre-tax numbers as I go through some of the details. A decrease in quarterly income is never our goal and falls below our self-set standards. Despite the decrease in net income, I thought as a company, we performed well operationally in the first quarter. Our insurance segment had its second best first quarter out of the last five years, and our death care segment had its third best second quarter out of the last five years. Which ...